India’s startup ecosystem is rapidly maturing—and at the forefront of this transformation stands India Accelerator, a multi-stage, multi-thesis fund led accelerator that is reshaping the early-stage startup ecosystem in India. In an exclusive interview with Arushi Agarwal, Deepak Sharma, Co-Founder & Managing Partner of India Accelerator, offers a deep, thoughtful look into how India’s innovation landscape is evolving, what sectors will dominate the next decade, and what it truly takes to build a sustainable company.
A Vision Built Over Eight Years
Deepak describes India Accelerator’s journey as one driven by purpose and ecosystem-building. What began as an early-stage accelerator inspired by global models like Y Combinator has now evolved into a SEBI-regulated AIF fund with Finvolve as a partner entity:
- 3 Cat I funds and 1 Cat II fund with ₹500 crores in committed capital
- 30+ co-working hubs across in 16 cities
- Operator VC with a network of 120+ mentors
Deepak shares:
“We started because the ecosystem needed more than just funding—it needed structure, mentorship, and a pipeline that could take founders from 0 to 1, 1 to 10 and 10 to 100 journeys . Over eight years, we evolved into a thesis-led operator VC because founders need hands-on help, not just capital.”
This evolution reflects India Accelerator’s belief that sustainable startups require capital + capability + connection + community.
The Power of Three: Finvolve, India Accelerator, IA Spaces
Deepak emphasized that the backbone of their model lies in the three verticals that work together cohesively:
Finvolve (Financial Capital )
Manages AIFs, fund raise, investor relations, fund operations, SEBI compliance, and AIF responsibilities.
India Accelerator (Intellectual Capital)
Operator VC model which works with startups on deal flow, mentorship, growth and exits
IA Spaces (Infrastructure Capital )
Coworking Hubs and physical spaces, events, founder mixers , VC demo days, and community events .
According to Deepak:
“Each vertical has a specialized team. One manages capital, another builds companies, and the third strengthens the community. It’s a 360-degree model.”
Deepak’s Investment Outlook: Betting on India’s Strengths
Articulating India Accelerator’s multi-thesis approach, Deepak offers a clear and strategic view of where India’s future lies.
5 Key Theses:
- Defense & Aerospace
- Distributed Energy
- Strategic Frontier Technologies (AI, semiconductors, quantum)
- Consumption & Impact (healthtech, agritech, fintech)
- Supply Chain & Advanced Manufacturing
Deepak explains their thesis selection:
“We invest where India has a strong talent pool, supported by Government policy, and where global tailwinds exits g. Defence, SpaceTech, AI, quantum, semiconductors and advanced manufacturing are not just sectors—they are national priorities.”
He believes India’s deep-tech revolution will accelerate over the next decade.
Long-Term Bets
He notes that areas like defence, spacetech, quantum computing and semiconductors may take 5–7 years to show commercial returns, but they are essential strategic investments.
“Quantum founders today may be building early prototypes, but they will define India’s technological sovereignty tomorrow.”
How India Accelerator Evaluates Startups: Deepak’s Framework
Deepak is clear on one point: ideas matter less than execution.
He shares:
“The idea itself is just 1% of the journey. The remaining 99% depends on the founder’s ability to execute with clarity and resilience.”
India Accelerator evaluates startups using two internal frameworks:
4T Model
- Team: Founder depth, experience, fitness
- TAM: Market scale and global potential
- Technology: IP, defensibility, innovation
- Traction: KPIs, product roadmap, customer validation
3R Model
- Desirability: Does the market need this?
- Feasibility: Can the team actually build and deliver?
- Viability: Will this business sustain and return capital?
Deepak adds:
“We prefer founders who deeply understand the problem—not those chasing trends.”
About 70% of their capital goes to early stage startups, while 25–30% is reserved to back winners in later rounds.
Helping Startups Go Global
One of the strongest differentiators in India Accelerator’s model is its emphasis on international expansion.
Deepak explains:
“India produces world-class tech, but global markets accelerate scale. We help founders understand where their solution fits internationally and enable them to enter with the right strategy.”
India Accelerator has partnerships and offices in:
- UAE (fintech, martech)
- Japan (advanced manufacturing, robotics)
- United States (AI, SaaS)
- Germany, Saudi Arabia, Australia
Their hands-on support includes marketing, branding, GTM strategy, and cross-border investor access.
Deepak on India’s Evolving Startup Landscape
Reflecting on the last decade, Deepak highlights how India has undergone a massive shift:
- Increase in risk capital
- More angel investors and AIFs
- Stronger founder skillsets
- Research from IITs flowing into startups
- Successful IPOs building confidence
“The ecosystem has matured. Today’s founders are more experienced, investors are more informed, and India’s ambition is global. This combination is extremely powerful.”
His Advice to Founders: Purpose > Valuation
Deepak believes the next wave of founders must focus on value creation, not valuation chasing.
“Valuations are temporary milestones. But solving real-world problems—especially hard ones—that creates long-lasting companies.”
He emphasizes resilience, grit, and long-term thinking.
Deepak’s personal philosophy is rooted in the Bhagavad Gita, which shapes his leadership approach.
“The Gita teaches effort without attachment—give your 200% to a cause bigger than yourself. When purpose is strong, you develop the resilience needed to build institutions that last.”
Conclusion
The interview with Deepak Sharma reveals a leader deeply committed to building India’s deep-tech future. His focus on strategic sectors, operator-style support, and global scaling reflects a vision for a stronger, innovation-driven India.
Under his leadership, India Accelerator is not just funding startups—it is building institutions, nurturing talent, and shaping India’s next generation of global-first companies.
Interview by: Arushi Agarwal
